Abstract: Contemporary organizations face an unprecedented demographic complexity: up to six distinct generational cohorts now coexist in the workplace, from Traditionalists born before 1946 to Generation Alpha entering internships and early-career roles. This multigenerational convergence creates both strategic opportunities and operational challenges for leaders navigating divergent communication preferences, career expectations, technological fluencies, and value orientations. Research demonstrates that generational diversity, when managed effectively, enhances innovation, knowledge transfer, and organizational adaptability, yet poorly managed generational friction erodes engagement, accelerates turnover, and constrains collaboration. This article synthesizes evidence from organizational behavior, human resource management, and leadership scholarship to examine the contemporary multigenerational workforce landscape, quantify its organizational and individual impacts, and present evidence-based interventions for fostering intergenerational collaboration. Drawing on case examples spanning healthcare, technology, manufacturing, and professional services, the article offers practitioners a structured framework for building inclusive, high-performing teams that leverage generational diversity as a competitive advantage rather than a divisional liability.